Celestial Asia Securities Holdings (CASH) is set to buy 69.21 per cent of Pricerite Group - controlled by the brokerage's chairman, Bankee Kwan Pak-hoo. CASH will acquire the stake in the furniture and household products retailer from two major shareholders, one of them connected to the brokerage. Mr Kwan is believed to be the connected shareholder, according to sources. In Pricerite's latest annual report, the company said Miliway Resources, which Mr Kwan owns, had a 50.91 per cent shareholding. A CASH source said the firm planned to settle the transaction by issuing new shares to Mr Kwan and the other shareholder. It was also expected to make a cash offer for the rest of Pricerite since the acquisition pushed it over the 35 per cent trigger point for a general offer. The transaction provides a second opportunity within six months for Mr Kwan to increase his holding in CASH by selling his personal assets. In September, Mr Kwan and Ken Khoo Ken-wee, managing director of CASH, sold their combined 8.69 personal holding in CASH Online, the firm's joint venture Internet arm. In return they received 463.14 new CASH shares, thus increasing their combined holding in the firm from 44.75 per cent to 49.45 per cent. The source said the Pricerite acquisition could help CASH become a cross-sector service group. Pricerite operates a chain of stores specialising in the selling of furniture and household products. However, the retailer has been posting rising losses. Both CASH and Pricerite shares were suspended from trading yesterday. The shares last traded at 30 HK cents and 45 HK cents respectively.